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About us

Avencia are partnered with a global insurer and member of the Talanx Group who are looking to hire a Delegated Authorities Technical Accountant in their London office.

The role

To carry out all aspects of insurance technical accounting for delegated authority business.

Key accountabilities

Participation in the quarterly closing process
Collaborating on cross-departmental projects
Communicate with brokers to facilitate the timely collection of debt
To accurately process all cash amounts to the appropriate ledger (via Xchanging & direct), having agreed the items with the relevant third party. This includes brokers, co-insurers, reinsurers and other third parties, such as loss adjusters
To correctly allocate all cash against the respective debt entries on the ledgers and to be able to reconcile any balance due to/from the third party to the third-party statements.
Develop knowledge to promptly and proactively investigate settlement or accounts queries on the ledgers, liaising with the underwriters, operations technicians and claims teams as appropriate to resolve the queries.
To proactively participate in initiatives designed to improve the effectiveness or efficiency of the credit control department.
To undertake any other tasks as requested by the Financial Controller in order that the team achieve its objectives.
Responsible for managing claims loss funds, including initial loss fund payment and monitoring usage. Review all TPA loss fund change requests and provide supporting accounting information where required.
To perform monthly reconciliations of premium and claims bordereaux.
To process payments and cash settlements for claims fund top-ups, invoices, emergency top ups, cash calls
Perform technical bookings for premium and claims including funds, cash calls, invoices, and reserves.

Skills & experience

Strong knowledge of Delegated Authority insurance and the terminologies used, across all lines of business.
Good interpersonal skills - comfortable with phone & face to face discussions with customers, underwriters, brokers & other internal technical staff.
Strong numerical understanding and analytical thinking skills
High flexibility and teamwork ability, along with a responsible, conscientious, and independent working style
Proficient in using the MS Office Suite, especially Excel
Curious and confident with problem solving
Experience of working with credit control teams & understanding their requirements
Able to organise own workload effectively to meet service standards.
Deadline focused; able to work under pressure to meet tight deadlines
A good working knowledge and experience of working with Xchanging and London market / subscription market